Financial Action Task Force – Bhartiyanews24x7

FATF in its mutual assessment report acknowledged that India faces a disparate range of terrorism threats. File. | Photo Credit: AP The Financial Action Task Force (FATF), which adjudged India to have attained a high-level of technical compliance across all its recommendations, has in its mutual assessment report noted that Indian agencies have seized significant amounts from proscribed terrorists under the Unlawful Activities (Prevention) Act, and assets from terror financing (TF) and money laundering (ML) investigations.Acknowledging that India faces a disparate range of terrorism threats, it said they could be summarised as theatres associated with the Islamic State or Al Qaeda-linked extremist groups active in and around Jammu and Kashmir, directly or via proxies/affiliates, as well as...

New Delhi: Government is backing greater transparency for credit card and other digital payment methods, while seeking to balance the interests of the payment and fintech industry, a senior official said on Tuesday. As part of its efforts to crack down on terror finance and money laundering, the Financial Action Task Force (FATF) has proposed stricter norms for card and online transactions, which may require more disclosures.Industry players, including some of the global giants in the payments business, have, however, cited difficulties, including higher cost of compliance and changes in software and protocol."India supports greater disclosures, but it should not compromise the speed of transactions and ease of doing business," a senior official said. The idea is to have more data related ...

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India has seized significant amounts from proscribed terrorists: FATF

Govt backs disclosures for credit card, e-transactions – Times of India